Possible Fed limits on Wall Street energy bets will be ‘harmful': U.S. Chamber

A street sign for Wall Street is seen outside the New York Stock Exchange in Manhattan, New York CityThe U.S. Chamber of Commerce on Thursday blasted the Federal Reserve's regulatory work and called on the central bank to scrap a proposal to limit Wall Street's energy bets and commodities investments. The group, which says it represents more than 3 million U.S. businesses and professional organizations, wrote to the Fed that it should withdraw its proposed plan to require banks to hold more capital against energy and commodity investments. Wall Street also could not control power plants and bank holding companies would be prohibited from owning copper under the plan, which was unveiled in September.


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